After joining Bradesco in March 2009, the company had just lost its position to Itaú Unibanco. On his inauguration speech after joining Bradesco, he promised to serve diligently in all aspects of his job. One of the boldest moves after joining the industry was the purchase of HSBC for about $5.2 billion. The acquisition put Bradesco on the map, especially in terms of the total investment fund, number of account holders, and branch network. It was also a great achievement for the company since it would take almost six years to achieve the same through organic growth.
Career and Early Life
Trabuco was born in 1969 in Arilla and later joined the University of Sao Paulo where he graduated with a degree in philosophy. He started out as a clerk and slowly rose through the ranks. In 1984, he became the director of marketing and later in 1992 to 1998, he served as the executive director and president of the Bradesco Private Pension Scheme. He later became the executive vice president in 1999 until he took over the leadership of Bradesco after the retirement of his former boss who held the position from 2003 to 2009.
In the mid-1980s when he was the head of the marketing board, Trabuco was responsible for the modernization of the bank’s publicity. This was a huge step since it opened up the bank to the media. Also, his core duty at the bank starting from 2003 was what made him the best candidate for the presidency. Under his tenure, the insurance company doubled in size with a market share of 25%, and for the first time, it became the largest company in the insurance sector in Latin America.
Impact of the Insurance Sector
Not all executives in the Brazilian economy have the influence as the president of an institution such as Bradesco. Trabuco is one of the people whose opinion is closely followed by political leaders and the elite business class. That said, his opinion is featured in newspapers and magazines. He joined the bank at the age of 57 and since he understands the insurance sector, Trabuco will definitely play a huge role in driving the company’s economy to a different level. He also has a great task ahead of him since his predecessor left a good track record. In fact, in the last ten years, his predecessor managed to multiply the company’s market share from $5 to $ 30 million.
He will be the fourth president of the insurance company since its establishment sixty-five years ago. A lot of people have confidence in him since he has worked for the company for close to forty years. His success, especially in raising the company’s market share, and his working style, which is closely related to his predecessors makes him an excellent candidate for the position. Although this might be the case, he still has a great challenge ahead of him since their close competitors are worth $422 in assets and Bradesco is at $ 150. He also hopes to have an organic growth which can be achieved through the company’s internal performance.
Find more about Luis Carlos Trabuco Cappi: http://bradesco.infoinvest.com.br/relatorios-cvm/ptb/000906/20001231/5/31.12.200.pdf